Top 10 Best Payment Gateway Companies in India in 2023

Top 10 best payment gateway companies in India in 2023


A payment gateway is a network via which your customers can send you money. The bulk of physical stores’ Point-of-sale Terminals and payment gateways are strikingly similar. A payment gateway requires cooperation from both customers and businesses in order for a transaction to be completed.

A payment gateway may be made available to customers by a bank, but it may be made available independently by a specialised financial service provider like payment service provider.

A payment gateway allows a payment transaction by transferring data from a payment portal like a website, interactive voice response service, or mobile app to the front end processor or acquisition bank.

Businesses can launch e-commerce, in-app, and point-of-sale transactions for a variety of payment methods by utilising payment gateways. A seller’s website or POS system is usually connected to the gateway, which is a web server. It has nothing to do with how money is allocated. A payment gateway used to connect many acquiring banks and payment options into a single system.

Let us take a look at the Top 10 best payment gateway companies in India in 2023.

Top 10 best payment gateway companies in India in 2023

payment gateway

1. Cashfree Payments: Cashfree Payments is a renowned payment gateway and API payment platform based in India. It can help online businesses with payment solutions. They have onboarded over 100,000 merchants to date.

Akash Sinha and Reeju Datta launched the company in 2015, with headquarters in Bangalore. This platform accepts a variety of payment methods and is linked with eCommerce systems like Magento and Shopify.

The different payment methods it accepts include debit and credit cards like Mastercard, Visa, AMEX, Rupay, Diners, etc., Paytm and net banking from 65+ banks and other wallets, Google Pay, UPI by BHIM UPI, PhonePe, Buy Now, Pay Later, and EMI options. It supports IMPS, NEFT, and PayPal.

Pricing varies depending on the way of payment used by the seller. Majority of payments have a structure of payment of 0% or 1.90%. However, paying later and cardless EMI have higher rates (2.5%), and overseas payment options may range from 3.5% to the highest rates.

This payment gateway is designed specifically for the Indian market, and its User Interface is simple to use. There is a dashboard with statistics to keep track of things. Cashfree supports 32+ currencies, but requests for other currencies can be made.

Clients of Cashfree’s services include Delhivery, OlaMoney, MedLife, Cred, Zoomcar, and Zomato.

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2. Razorpay: Razorpay is India’s only payments solution that allows businesses to process, accept, and distribute payments through its product suite.

Razorpay is one of India’s leading payment gateway companies. The company was established in 2014, and it already has over 800,000 consumers that use the Razorpay payment platform.

With a valuation of more than $1 billion, the firm became an Indian unicorn startup in October 2020. To date, the Bangalore-based fintech firm has garnered more than $200 million in funding.

It allows you to pay using a debit card, a credit card, UPI, net banking, and popular wallets like Mobikwik, Jio Money, Airtel Money, Ola Money, PayZapp, and FreeCharge. RazorpayX, Razorpay’s commercial banking arm, improves the efficiency, efficacy, and perfection of all financial processes.

Businesses can use RazorpayX to gain access to fully functional Current Accounts, Boost Payouts, and manage payroll compliance. From a single platform, you can manage your marketplace, collect recurring payments, automate bank transfers, apply for working capital loans, and share invoices with consumers. Razorpay will help you move your business forward.

Razorpay provides 100+ payment alternatives, a Save saving option, Simple connection, and API-driven automation without personal involvement. Dashboard functionality for seeing real-time statistics, website payment integration, invoice payment, and continuous assistance.


3. Pay Pal: PayPal, an American multinational, is a payment gateway and operates in several countries, including India. It specialises in online payments and money transfers.

It was launched in 1998 under the name Confinity with a completely new business model and later evolved into a digital wallet in 1999. The earliest founding members of the same are Luke Nosek, Peter Thiel, and Max Levchin.

PayPal now has offices in the United States, in California and San Jose and three locations in India, in Chennai, Bangalore, and Hyderabad.

PayPal Payments Private Limited operates PayPal in India. The company is committed to democratising financial services and helping individuals and businesses to participate in and flourish in the global economy.

The open digital payments platform of the company gives PayPal’s 325 million Active Account Users the confidence to interact and transact in new and powerful Ways, Whether Online, in an app, on a mobile device, or in person.

PayPal delivers better ways to manage and move money by combining strategic relationships and technology innovation and it Provides Flexibility When sending payments, receiving payments, or paying.

Paypal is available in over 200 markets globally. The PayPal platform, which includes Venmo, Braintree, and Xoom, allows customers and merchants to withdraw payments in 56 currencies, receive money in over 100 currencies, and maintain balances in their PayPal Accounts In 25 currencies.

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4. Instamojo: Instamojo is another successful Indian payment gateway firm with over 1 million active consumers.

Because of its simplicity and convenience of use, this payment channel has grown in popularity. Instamojo accepts over 100 different payment methods. It supports recurring billing, allowing merchants to collect payments on a regular basis.

It assists your company in maintaining and running a customer-centric retail engagement programme by providing omnichannel transaction status updates, ensuring a reliable experience for both customers and merchants alike.

Instamojo is a dual-site platform that allows you to develop your website while using their payment gateway solutions. Akash Gehani, Sampad Swain, and Aditya Sengupta founded this gateway in 2012. They wanted to make the internet a safe environment for businesses. It presently offers payment solutions to over 20 lakh Indian businesses. The best part about Instamojo is that there are no fees for NEFT,  RTGS, or bank transfers.

Micro-entrepreneurs, MSMEs, and startups use Instamojo to immediately establish, manage, sell, and develop their businesses by leveraging their portfolio of solutions like payments, logistics, a free online store, credit, finance, and more, available on web and mobile.

Their features include electronic invoice payment, recurring payment, website and application integration, payment analytics, an easy onboarding process, 100+ payment modes, an online store, and a live chat facility.

The top three customers of Instamojo are Shriram Properties, Zepo, Adani Realty, and SpringBoard.

5. Paytm: Paytm is an abbreviation for “pay through mobile,” as the name suggests. This global corporation, located in India, provides a digital payment system for eCommerce and financial services. Vijay Shekhar Sharma founded this fintech in 2010 as a DTH and prepaid recharge platform in Noida. Paytm is now available in 11 Indian languages, with over 2 crore merchants in India using their services.

The Paytm Payment Gateway is based on the same technology that powers some of India’s most well-known brands, and Paytm App. All major payment methods, including domestic and international cards, Paytm Wallet, UPI, netbanking, and Paytm PostPaid, are supported via the payment gateway.

The payment gateway has been created so that consumers of all types may easily understand how payments are made. It is India’s only payment gateway that accepts UPI payments with no transaction fees. It is the only payment gateway with a T+1 Settlement Timetable.

Paytm’s transaction costs for Paytm wallet, credit card, and net banking payments are 1.99%. There are no Withdrawal, Setup, Or annual maintenance costs. Aside from that, you’ll need your business PAN number and a business Bank Account Number in your name.

The features of Paytm include instant activation, 100+ payment sources, easy integration, the most widely used checkout in India, dedicated support, and the best success rates.

It is used by Popular Firms Such As Uber, Zomato, Adani, Swiggy, Jio, and thousands more. Join these firms in adopting Paytm, and if you own a Magento store, you can learn how to integrate Paytm with Magento and make the most of the payment gateway.


6. PayU : PayU is a digital payment firm established in the Netherlands that provides merchants with online payment technologies. The company has a presence in 17 countries. Because of its outstanding features, it ranks among the payment gateways in India. PayU has helped over 4,550,0000 businesses. This is a fintech division of Prosus, which is a multinational consumer internet corporation and one of the world’s largest technology investors.

The firm offers over 100 payment alternatives, including buy now, pay later, EMI, UPI, cards, wallets, and net banking. Due to the fact that it accepts over 100 different currencies, businesses can take payments from foreign countries.

Another amazing feature of PayU is that it allows consumers to customise the checkout page. After signing up with PayU, the company displays all transactions in the dashboard. The payment gateway offers a simple and attractive User Interface, and businesses can incorporate a website and a mobile app.

This payment gateway’s pricing varies because there are three plans to pick from: starter plan, business premium, and business plus. The free plan (the “Starter Plan”) includes No Setup Fees, annual maintenance fees, or withdrawal fees. It would charge you 2% plus GST for transaction costs.

One of PayU’s benefits is that it accepts a variety of payment methods, including wallets, credit and debit cards, UPI, EMIs, and net banking. It supports several currencies and accepts payments from anywhere. Simply put, the platform is connected to a number of payment platforms.

They allow for brand customization. Additionally, PayU provides 100+ foreign currencies, recurring billing capabilities, mobile and website integration, a Dedicated Account Manager, invoice generation, and international payments.

Some of its top customers are Dream11, Netflix, Ola, and Airbnb.


7. Bill Desk: One of the most reputable payment gateways in India is Bill Desk, a government-owned Bharat Bill Payment Operating Unit. Through its broad range of banking services, Bill Desk makes it simple to pay for necessities and utilities, including phone, credit card, insurance, gas, ISP, and other amenities.

The business was founded in 2000, and it specializes in handling recurring payments. Use the Billdesk payment gateway to collect bills or regular payments from your customers.

Bill Desk is connected to many Indian banks to streamline, simplify, and safeguard the payment process. Through the Bill Desk, customers can decide how and when to make payments. They can also establish alerts or reminders for payments.

Reputable businesses that trust the payment gateway include Indian Airlines, Vodafone, Airtel, Reader’s Digest, India Today, and others. By integrating Meetanshi’s Magento 2 Billdesk Payment extension and obtaining recurring payments from your customers, you can join these businesses in offering a great payment experiences to your customers.

Billdesk is a provider of safe payment gateways and supports recurring payments.

payment gateway
8. Infibeam: Infibeam Avenues Limited is an Indian multinational financial technology firm that offers e-commerce software services to businesses across multiple industries and the Government of India. It provides payment services internationally under the brand name CCAvenue.

CCAvenue is one of India’s biggest direct debit engines, integrating more than 55 Indian banks in real time with more than 240 choices of payment.

Vishal Mehta established Infibeam Avenues Limited, formerly Infibeam Incorporation Limited, in 2007. It has offices in Delhi, Mumbai, and Bengaluru in addition to its headquarters in GIFT City, Gujarat, India. The business started out as an online marketplace and, in 2011, branched out into Software Enabling Services.

One of India’s top providers of digital payments and e-commerce technology solutions is Infibeam Avenues Limited (IAL), the first fintech and e-commerce company to be listed on the Indian Stock Exchange.

It processes payments made via digital wallets, including UPI payments, net-banking, and all credit and debit cards. This company provides users with multilingual and multicurrency payment solutions and has operations in the Middle East and India.

payment gateway

9. JusPay: With 120 million mobile device SDK installations, 4 million daily transaction volumes, and 10 billion INR in daily transaction volume, JusPay is one of India’s most reliable payment gateways.

The most amazing aspect of this payment gateway is how well-known and widely used it is by its excellent client base, which includes BMS, Myntra, Flipkart, Amazon, MakeMyTrip, and many more. This payment gateway is further used by Freecharge, Airtel, Zivame, Snapdeal, Swiggy, Foodpanda, Zoomcar, and Voonik, Among Others.

Additionally, this adaptable and modular payment gateway provides function-reactive programming and domain-specific languages for robust, composable abstractions.

This payment gateway is one of the most convenient, safe, and affordable alternatives for online payments, and it offers 100% customization capability and more than 5 million daily transactions.

You can choose the Magento 2 JusPay Payment Gateway to integrate this payment processor with Magento 2, which allows for the secure acceptance of online payments. Security in Magento 2 stores is ensured via hosted payment processing.

The features offered by JusPay are mobile and desktop checkout layers, real-time payment operations, and automated two-factor authentication.


10. PayGlocal: PayGlocal is among the most well-known payment gateways in India. It is an international, quick, and secure platform for money processing. The payment gateway is a great choice for your business and offers top-notch security for carrying out online transactions. enables you to accept payments from customers anywhere in the world and contributes to the rapid expansion of your business.

The website that PayGlocal provides its merchants with allows them to track transactional data, obtain reports, and perform other things. It also helps with currency settlement in other countries. The organisation offers a chargeback guarantee so that store owners may concentrate on running their companies and easily protect their clients from various fraudulent actions.

The features offered by PayGlocal are that it enables clients to pay in their own currency, has services for preventing fraud, and guarantees a smooth checkout process.

payment gateway


The digital economy relies heavily on payment gateways, which have grown in importance in the modern day as online payments become a more and more common method of conducting business.

By allowing users to send their credit card information in a safe and secure manner, these solutions help to reduce some of the barriers to online commerce. The first payment gateways were simple card readers, as opposed to the sophisticated systems used today to authenticate and gather PIN numbers, signatures, and other data for merchant transactions.

Payment gateways have developed into a critical component of any online store. Due to the rise in e-commerce platforms, payment gateways are now crucial for India. The online payment gateway market is estimated to expand by close to 88 billion USD by 2027 due to the rise in demand for digital payments, improved technology, etc.

If you’re just getting started with a small business, the most straightforward choice is to use a payment service provider such as PayPal. They handle the entire procedure, so you don’t have to bother about opening a new bank account or developing unique software. By choosing a third-party service, you give up some control over the client experience, but you also don’t have to worry about security yourself.

edited and proofread by nikita sharma


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